Deere & Co. (NYSE:DE) was upgraded by equities researchers at Longbow Research from an “underperform” rating to a “neutral” rating in a report issued on Friday, The Fly reports.
A number of other equities research analysts also recently weighed in on DE. Royal Bank Of Canada lifted their target price on Deere & Co. from $80.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Friday. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Deere & Co. in a research report on Friday, October 21st. RBC Capital Markets assumed coverage on Deere & Co. in a research report on Thursday, November 10th. They set an “outperform” rating on the stock. Oppenheimer Holdings Inc. downgraded Deere & Co. from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 27th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $96.00 target price on shares of Deere & Co. in a research report on Thursday, August 18th. Eight equities research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $85.54.
Shares of Deere & Co. (NYSE:DE) opened at 102.17 on Friday. The company has a 50-day moving average price of $88.69 and a 200 day moving average price of $84.01. Deere & Co. has a 52-week low of $70.16 and a 52-week high of $102.50. The firm has a market capitalization of $32.12 billion, a PE ratio of 20.47 and a beta of 0.71.
Deere & Co. (NYSE:DE) last released its earnings results on Wednesday, November 23rd. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.50. Deere & Co. had a return on equity of 22.73% and a net margin of 5.92%. The business had revenue of $6.52 billion for the quarter. During the same period last year, the business earned $1.08 earnings per share. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. Analysts expect that Deere & Co. will post $4.32 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Friday, September 30th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend was Wednesday, September 28th. Deere & Co.’s dividend payout ratio is currently 48.10%.
In related news, insider John C. May II sold 18,614 shares of the company’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $96.46, for a total value of $1,795,506.44. Following the completion of the sale, the insider now owns 28,926 shares in the company, valued at approximately $2,790,201.96. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.75% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Washington Trust Bank boosted its stake in Deere & Co. by 59.0% in the second quarter. Washington Trust Bank now owns 1,240 shares of the company’s stock worth $100,000 after buying an additional 460 shares in the last quarter. Hartford Financial Management Inc. raised its position in shares of Deere & Co. by 5.2% in the third quarter. Hartford Financial Management Inc. now owns 1,210 shares of the company’s stock worth $103,000 after buying an additional 60 shares during the last quarter. Jolley Asset Management LLC raised its position in shares of Deere & Co. by 14.0% in the third quarter. Jolley Asset Management LLC now owns 1,225 shares of the company’s stock worth $105,000 after buying an additional 150 shares during the last quarter. CWM LLC raised its position in shares of Deere & Co. by 94.6% in the third quarter. CWM LLC now owns 1,234 shares of the company’s stock worth $105,000 after buying an additional 600 shares during the last quarter. Finally, Cornerstone Advisors Inc. raised its position in shares of Deere & Co. by 6.0% in the third quarter. Cornerstone Advisors Inc. now owns 1,268 shares of the company’s stock worth $108,000 after buying an additional 72 shares during the last quarter. Institutional investors and hedge funds own 70.14% of the company’s stock.
Deere & Co. Company Profile
Deere & Company is engaged in equipment operations and financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The Company’s agriculture and turf segment primarily manufactures and distributes a full line of agriculture and turf equipment and related service parts.